New York State Teachers Retirement System Lowers Position in Nexstar Media Group, Inc. (NASDAQ:NXST)

New York State Teachers Retirement System lowered its stake in Nexstar Media Group, Inc. (NASDAQ:NXST) by 2.3% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,544 shares of the company’s stock after selling 222 shares during the quarter. New York State Teachers Retirement System’s holdings in Nexstar Media Group were worth $1,496,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. lifted its stake in shares of Nexstar Media Group by 0.8% during the 1st quarter. BlackRock Inc. now owns 3,397,336 shares of the company’s stock valued at $586,584,000 after buying an additional 27,714 shares in the last quarter. State Street Corp lifted its position in shares of Nexstar Media Group by 0.5% in the first quarter. State Street Corp now owns 1,038,998 shares of the company’s stock valued at $179,393,000 after acquiring an additional 5,325 shares in the last quarter. Morgan Stanley boosted its stake in shares of Nexstar Media Group by 2.9% in the third quarter. Morgan Stanley now owns 1,014,676 shares of the company’s stock worth $145,474,000 after acquiring an additional 28,975 shares during the period. Goldman Sachs Group Inc. grew its position in shares of Nexstar Media Group by 9.2% during the first quarter. Goldman Sachs Group Inc. now owns 716,393 shares of the company’s stock worth $135,026,000 after purchasing an additional 60,217 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in Nexstar Media Group by 44.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 607,631 shares of the company’s stock valued at $87,116,000 after purchasing an additional 186,486 shares during the period. Institutional investors own 95.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on NXST. Barrington Research reaffirmed an “outperform” rating and set a $200.00 price objective on shares of Nexstar Media Group in a report on Thursday, March 7th. TheStreet upgraded shares of Nexstar Media Group from a “c+” rating to a “b-” rating in a report on Thursday, February 1st. Finally, Rosenblatt Securities dropped their price objective on shares of Nexstar Media Group from $216.00 to $213.00 and set a “buy” rating for the company in a report on Wednesday, March 13th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Nexstar Media Group presently has an average rating of “Moderate Buy” and a consensus target price of $193.83.

Insider Buying and Selling

In other news, Director Charles Thomas Mcmillen sold 1,475 shares of the stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $166.00, for a total value of $244,850.00. Following the sale, the director now owns 4,525 shares of the company’s stock, valued at $751,150. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Nexstar Media Group news, Director Dennis J. Fitzsimons sold 2,000 shares of the company’s stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $170.82, for a total value of $341,640.00. Following the transaction, the director now owns 12,027 shares of the company’s stock, valued at approximately $2,054,452.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Charles Thomas Mcmillen sold 1,475 shares of the stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $166.00, for a total value of $244,850.00. Following the completion of the sale, the director now owns 4,525 shares in the company, valued at approximately $751,150. The disclosure for this sale can be found here. Insiders sold a total of 46,508 shares of company stock worth $7,487,950 over the last three months. 5.90% of the stock is owned by insiders.

Nexstar Media Group Stock Performance

Shares of NASDAQ:NXST opened at $158.87 on Thursday. The firm has a fifty day simple moving average of $165.76 and a two-hundred day simple moving average of $158.01. Nexstar Media Group, Inc. has a 52 week low of $132.30 and a 52 week high of $187.32. The company has a quick ratio of 1.53, a current ratio of 1.53 and a debt-to-equity ratio of 2.90. The stock has a market capitalization of $5.31 billion, a P/E ratio of 16.50, a PEG ratio of 0.60 and a beta of 1.50.

Nexstar Media Group (NASDAQ:NXST) last released its quarterly earnings results on Wednesday, February 28th. The company reported $3.32 EPS for the quarter, missing the consensus estimate of $4.42 by ($1.10). Nexstar Media Group had a return on equity of 14.06% and a net margin of 7.03%. The company had revenue of $1.30 billion during the quarter, compared to analysts’ expectations of $1.32 billion. During the same quarter in the prior year, the business posted $8.04 EPS. The company’s revenue was down 12.3% on a year-over-year basis. On average, analysts expect that Nexstar Media Group, Inc. will post 26.73 earnings per share for the current fiscal year.

Nexstar Media Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 23rd. Investors of record on Friday, February 9th were issued a dividend of $1.69 per share. This represents a $6.76 annualized dividend and a yield of 4.26%. The ex-dividend date of this dividend was Thursday, February 8th. This is a positive change from Nexstar Media Group’s previous quarterly dividend of $1.35. Nexstar Media Group’s dividend payout ratio is presently 70.20%.

Nexstar Media Group Profile

Nexstar Media Group, Inc operates as a diversified media company that produces and distributes engaging local and national news, sports and entertainment content across the television and digital platforms in the United States. It owns, operates, programs, or provides sales and other services to various markets; and offers television programming services.